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Financial rating: Côte d'Ivoire has one of the best credit profiles in Africa

05/03/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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The American credit rating agency Moody's has raised the country's sovereign rating from Ba3 to Ba2. The country now has the second best credit in sub-Saharan Africa.

Moody's upgraded Côte d'Ivoire's rating on 1 March from Ba3 (positive outlook) to Ba2 with a stable outlook. The American credit rating agency said that “this increase reflects the economic resilience of Côte d'Ivoire, supported by increasing economic diversification, rising income levels and a robust economic outlook. Moody's expects this trend to continue until 2026, including through the implementation of the 2021-2025 National Development Plan (NDP)

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noted that this sovereign rating increase, which is rare enough in Africa to be noted, comes only a few weeks after the successful issuance of a new bond on the international debt market.

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